One takeaway from Federal Reserve Chairwoman Janet Yellen’s recent testimony before Congress is that she and her colleagues are feeling pretty good about the direction of the economy – good enough to “at some point” consider increasing interest rates.

What will those increases mean for the average American?

The Fed doesn’t set all interest rates, but Michelle Girard, chief U.S. economist at RBS, says the rates it does control impact many others, either directly or indirectly.

Ann Owen, economist at Hamilton College, says that could mean higher rates on auto loans, credit cards, and adjustable-rate mortgages, though increases will likely be gradual.

But if this all sounds like bad news, Ken Kuttner, who teaches economics at Williams College, says the silver lining is that interest rates on savings accounts will increase, too.

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